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UPDATE 1-Nampak headline EPS down, rand to weigh on ops

Mon Nov 23, 2009 8:19am EST

Stocks

   

* FY headline EPS down 53 percent to 83.8 cents

* Rand strength to continue hampering trading improvement

* Shares dip 0.37 percent

(Adds details, shares)

JOHANNESBURG, Nov 23 (Reuters) - Africa's biggest packaging firm Nampak Ltd (NPKJ.J) posted a 53 percent fall in full-year headline earnings per share and said strength in the rand currency would continue to hamper trading growth.

The group, which supplies folding cartons and plastic bottles, said on Monday headline EPS for the full-year to end-September fell to 83.8 cents as the global economic downturn hit trading activity.

Revenue increased by 6 percent to 19.585 billion rand ($2.61 billion), while full-year cash generated by operations went up 4 percent to 2.2 billion rand and trading income decreased by 27 percent to 1 127 billion rand.

The company said volatility of input costs may negatively impact trading income in the early part of next year and added that exiting underperforming businesses should improve profits in 2010.

Shares in the group slipped 0.37 percent to 16.24 rand, underperforming a 1.11 percent up JSE All share index . (Reporting by Phakamisa Ndzamela) ((phakamisa.ndzamela@thomsonreuters.com; +27 11 775 3160, Reuters Messaging:phakamisa.ndzamela.reuters.com@reuters.net)) (For more Africa cover visit: af.reuters.com/ -- To comment on this story email: SouthAfrica.Newsroom@reuters.com) ($1=7.493 Rand)


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